Trading Volumes Now Available from January through September
FIA today published the eighth issue of FIA SEF Tracker, a periodic report on trading activity taking place on swap execution facilities.
This issue contains data for the month of October and shows volume trends and market share for interest rate, credit default and foreign exchange products.
This month’s issue comes in two formats – a series of charts and a spreadsheet containing the underlying data.
Highlights from this month’s issue include:
• Trading of credit default swaps rose dramatically in October as new series were rolled out in the benchmark CDX and iTraxx indices. Volume rose to $530 billion in the week of October 6, far above the previous record level, as market participants closed out positions in the old series and opened new positions in the new series.
• Interest rate trading in October was approximately the same as the previous month. An increase in FRA trading offset a decline in non-FRA trading, which has been trending down since the week of Sept. 8. Two SEFs that concentrate on dealer-to-customer trading—Bloomberg and Tradeweb—had a combined share of 31.9% of non-FRA trading during the week of Oct. 13, the highest level yet recorded.
• Trading of non-deliverable forwards and FX options in October was approximately the same level as September. BGC had the largest share of the market during the week of Oct. 27, with $71.9 billion and 31.6% of the market.
The report is based on data collected directly from the SEFs via the daily reports they make available to the public. The report also includes data from trading venues that are offering the same or similar products but have opted to register with the Commodity Futures Trading Commission as designated contract markets rather than as SEFs.
To sign up for regular updates to the SEF Tracker, please visit the FIA website at http://www.fia.org/sef-tracker.asp.
